HI Options History — September 2025

In September 2025, HI traded between $23.27 and $26.84. ATM implied volatility averaged 85.6%, placing in the 31.7% IV rank vs the trailing year. The 30-day expected move averaged 20.8%. IV traded above realized volatility by 25.4% (HV 20d: 60.2%). Max pain ranged from $20.00 to $25.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 2.78.

Notable Days

  • 2025-09-26: Highest Volume — 20,505 contracts
  • 2025-09-03: Largest IV spike — 59.8% change
  • 2025-09-09: Highest IV Rank — 67.5%
  • 2025-09-29: Largest Expected Move — 28.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$25.12$23.27$26.84$24.63$26.84
Max Pain$20.48$20.00$25.00$22.50$25.00
ATM IV85.6%49.7%149.2%60.9%82.3%
Expected Move20.8%14.2%28.2%17.5%23.6%
HV 20d60.2%42.0%86.9%85.7%59.3%
HV 60d61.5%60.1%64.4%61.7%64.3%
IV Rank31.7%11.5%67.5%17.8%29.8%
IV Percentile59.6%15.5%94.8%35.7%61.1%
Term Structure-11.3%-39.6%20.4%18.8%13.4%
VWIV59.2%33.8%79.7%46.4%79.7%
Skew 25d22.9%-27.6%142.3%142.3%-24.8%
Skew 10d10.7%-94.2%182.0%182.0%-94.2%
Call IV 25d54.6%39.5%102.7%49.9%102.7%
Put IV 25d77.5%32.0%192.2%192.2%77.9%
Bid-Ask Spread %118.5994.82130.96130.9694.82
Gamma HHI0.510.300.660.640.51
Net GEX82.7K6.4K671.5K26.0K671.5K
Net DEX-2.8M-21.6M-266.8K-1.5M-21.6M
Net VEX-8.8K-84.2K-835-1.1K-84.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.780.0030.000.000.03
Total Volume1,179.143020,505251,248
Total OI3,123.42971523,4581,13123,458

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-09-02$24.63$22.5060.9%17.5%85.7%17.8%46.4%142.3%18.8%26.0K-1.5M-1.1K0.00130.96N/AN/A250913218
2025-09-03$24.57$22.5097.3%27.9%85.8%38.3%0.0%57.7%-39.6%31.9K-1.1M-2.1K0.00125.38N/AN/A00936218
2025-09-04$25.64$20.00120.5%18.6%85.0%51.3%45.2%43.0%-12.7%24.1K-1.3M-2.2K5.50126.78N/AN/A211936218
2025-09-05$26.33$20.00120.6%14.7%85.1%51.4%37.7%35.0%-4.0%26.3K-1.5M-1.8K0.00122.31N/AN/A40936224
2025-09-08$25.58$20.00141.7%20.0%86.1%63.3%0.0%57.4%-20.5%26.2K-1.3M-2.0K0.00120.21N/AN/A00940224
2025-09-09$25.02$20.00149.2%20.9%86.9%67.5%79.6%25.6%-26.0%23.8K-1.2M-2.0K30.00123.15N/AN/A130940224
2025-09-10$24.85$20.0074.5%21.4%66.8%25.4%0.0%46.1%-30.8%22.2K-1.2M-2.0K0.00125.13N/AN/A00940254
2025-09-11$25.67$20.0067.5%19.4%46.7%21.5%0.0%61.0%-17.6%6.4K-1.7M-9850.00122.51N/AN/A00940254
2025-09-12$24.68$20.0072.4%20.8%46.9%24.3%38.5%15.7%-19.6%22.8K-1.2M-1.8K0.00121.60N/AN/A20940254
2025-09-15$24.77$20.0075.1%21.5%46.7%25.8%60.4%19.2%-26.4%34.3K-1.2M-1.5K0.00114.55N/AN/A2710912254
2025-09-16$24.80$20.0081.3%23.3%46.7%29.3%59.8%5.1%-32.1%36.8K-1.3M-2.0K0.00123.56N/AN/A011,122254
2025-09-17$24.18$20.0056.1%16.1%47.0%15.1%0.0%-0.5%-17.6%45.0K-1.3M-1.7K0.00119.36N/AN/A001,122255
2025-09-18$25.44$20.0065.7%18.8%48.5%20.5%0.0%1.5%-1.2%20.0K-1.7M-1.2K0.00121.31N/AN/A1001,122255
2025-09-19$24.75$20.0058.1%16.7%49.4%16.2%74.0%-0.7%0.1%12.4K-1.5M-1.2K0.00115.84N/AN/A011,130255
2025-09-22$25.24$20.0049.7%14.2%42.6%11.5%48.4%35.2%20.4%10.5K-339.3K-8350.53117.36N/AN/A179529186
2025-09-23$24.73$20.0064.9%18.6%42.0%20.0%63.6%-9.8%4.8%12.5K-332.3K-1.2K0.00115.68N/AN/A250538191
2025-09-24$24.02$20.0091.9%26.3%42.7%35.2%33.8%-7.3%-10.9%12.1K-362.5K-1.4K0.00120.64N/AN/A02554191
2025-09-25$23.27$20.0071.2%20.4%43.4%23.6%75.2%-3.0%-35.2%10.8K-266.8K-1.0K0.00111.79N/AN/A30554191
2025-09-26$26.11$20.0097.8%28.0%60.5%38.6%66.7%-27.6%1.4%14.7K-522.2K-1.5K0.00110.28N/AN/A20,46144554191
2025-09-29$26.32$20.0098.3%28.2%59.8%38.8%79.5%10.5%-2.7%647.6K-17.2M-70.8K0.14107.10N/AN/A2,28431121,039226
2025-09-30$26.84$25.0082.3%23.6%59.3%29.8%79.7%-24.8%13.4%671.5K-21.6M-84.2K0.0394.82N/AN/A1,2093922,957501